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SUBJECT: <br />DATE: <br />OPEN SPACE & PARKS FUNDING POLICY <br />OCTOBER 10, 2017 <br />PAGE 4 OF 7 <br />eliminate the funding competition between capital projects and general <br />government services. <br />The Capital Project Fund will make an annual transfer to the Open Space & <br />Parks Fund calculated as total Open Space & Parks Fund capital expenditures <br />less all capital -related revenue, such as one-time grants, contributions, land <br />dedication fees, and any transfers from the Impact Fee Fund. This will put <br />capital projects in funding competition with capital projects. <br />In summary, the Open Space & Parks Fund's operational deficit would be funded by the <br />General Fund and its capital deficit would be funded by the Capital Projects Fund. <br />enerund <br />Projected at $476,000 for 2019 <br />Open Space <br />Parks Fund <br />Capital <br />Projects Fund <br />Projected at $484,000 for 2019 <br />CITY COUNCIL COMMUNICATION <br />